Equus Gaming Co.: Reopens Panama Track

EQUUS GAMING COMPANY L.P.
EXECUTIVE OFFICES
222 Smallwood Village Center, St. Charles, Maryland   (301) 843-8600  
                                                  Fax (301) 870-5487

                                
                          News Release

FOR IMMEDIATE RELEASE                             CONTACT
February 23, 1998                                 Annie Moraza
                                                  (787) 724-6060


                  EQUUS ANNOUNCES REOPENING OF
              PRESIDENTE REMON RACE TRACK IN PANAMA
                                
                                
     ST. CHARLES, Md._ Equus Gaming Company L.P. (Nasdaq: EQUUS),
a publicly traded partnership with horse racing and gaming
interests in the Caribbean, announced the reopening of Presidente
RemĒn Race Track in Panama City on February 14.
     The excitement surrounding the reopening of the renovated
race track has rekindled that country's love affair with horse
racing.  The track, which had been closed since the beginning of
the year, underwent extensive improvements before opening its
gates on Valentine's Day and is already netting attractive handle
levels.  Jump-starting handle levels for live racing on reopening
day ended with a hefty $140,000.00 in wagers.  The wide array of
simulcast cards offered in January while the track was being re-
vamped nearly eclipsed the $1.5 million mark and exceeded
management's projections.  Live racing is pushing fans'
enthusiasm even further.
     "The Cradle of the World's Best Jockeys", as the cherished
track is known to Panamanian racing fans, is now displaying an
overhaul of the entire racing strip grandstand area, new
landscape design, paddock and walking ring, electronic toteboard,
teletimer system and the latest in photo finish equipment.
Presidente RemĒn's state-of-the-art technology also includes a $2
million computerized betting system to be operated by Autotote
Systems, Inc.
     "Panama has a long and rich racing tradition that only
needed to be reawakened," asserted Juan Manuel Rivera Gonz lez,
President of Equus Gaming Panama, the operating arm of the track.
"We are beginning a new and exciting chapter in horse racing
history and enjoying each step of the way."
     A new general management has been appointed to spearhead
operations at the new venture lead by Rafael Otero Portela, who
earned his telecommunications credentials with the installation
of the successful off-track betting system for El Comandante Race
Track in Puerto Rico will now be in charge at the Panamanian
oval.  Otero Portela was also Director of Finances at El
Comandante and instrumental in the launch of V Centenario Race
Track in the Dominican Republic.  The new challenge is very much
welcomed by Otero, who looks forward to increased handle from
telephone betting which will be installed shortly.
     Equus Gaming Panama is a subsidiary of Equus Gaming Company
L.P. (Nasdaq:  EQUUS), a publicly traded partnership with horse
racing and gaming interests in the Caribbean.

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